In Pres. Obama’s inaugural address, he called for the expanded use of renewable energy to meet the challenges of energy security and climate change. He said that the U.S. will “harness the sun and the winds and the soil to fuel our cars and run our factories.” The White House website now features the President’s “New Energy for America” plan. That plan calls for federal investment of $150 billion over the next 10 years to provide incentives to the private sector for building a clean future. The details and goals of the plan include:
- Renewable energy to supply 10% of the nation’s electricity needs by 2012, and increasing to 25% share by 2025.
- Deploying energy efficiency, including the weatherization of one million homes each year
- A national cap-and-trade program to achieve 80% reduction in greenhouse gas emissions by 2050
- Placing one million plug-in hybrid cars on the road by 2015, and offering a $7,000 tax credit for their purchase
- Creating a national emissions standard to reduce CO2 emissions from motor vehicles